Monday, August 7, 2017

Re-Posting: Canada's "Permian Of The North" Now In Question -- August 7, 2017

I'm re-posting an earlier post. I had forgotten how "big" the Montney was. On May 20, 2017, the Montney, as a natural gas play, described as the "Permian of the North" was said "to be back."

With the cancellation of the Pacific Northwest LNG project, the Montney is now said "to be in question." Mr Trudeau is quickly learning it's hard to govern a socialist-leaning, faux-environmental country.

From earlier:
Boom and bust: canceled LNG project casts shadow over Canada's biggest shale play.
Petronas' decision to cancel its Pacific NorthWest LNG project is a blow to the growth outlook for Canada's largest shale play, eliminating a potentially huge source of future gas demand.
Gas from the Montney shale play in western Canada would have supplied the C$36 billion ($28.7 billion) project in northern British Columbia. The project, majority-owned by Malaysia's Petronas, would then have shipped 12 megatonnes per year of liquefied natural gas to Asia.
Instead, state-owned Petroliam Nasional Bhd (Petronas) subsidiary Progress Energy will keep developing and selling gas from its vast Montney position into a North American market where prices have been languishing at historically low levels.
The Montney is linked at the sidebar at the right (same link as above).

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